Just got my K3 cover with lamp in the mail from Amazon yesterday. Hopefully the reader itself ships by Friday. Never owned a Kindle and not too familiar with past covers. Do like the feel of the K3 cover. The elastic band holding it close is a nice touch, emphasizing the thinness. Hopefully the two metal clips that holds the Kindle in the cover holds up. Also hope the light being powered by the Kindle doesn't drain the battery too fast, given how the K3's battery isn't user replaceable. At least the clips is attached to the right side of the case, which should allow the hinge of the case to not contain any wires that could break with repeated use.
$60 is definitely too much for the case, but, I'm buying the K3 on impulse anyway. If it functionally works out and I don't buy a 2nd case (like I did with my Sony PRS-300), $60 is about right for total cost of cases.